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Mountain Province Diamonds Sees Significant Progress at Gahcho Kue
Time:2013-3-27 14:11:45 Source:diamond china   Share Us:

Mountain Province Diamonds Inc. said its Gahcho Kué project, a joint venture with De Beers Canada, is progressing well with a high level of activity "reflective of the significant advances made in preparation for development of the first diamond mine", says Patrick Evans, Mountain Province President and Chief Executive Officer, cited by Diamondintelligence.com.

"Encouraging progress continues to be made with the permitting and we expect an updated NI 43-101 resource statement for the massive Tuzo kimberlite in Q2," he says. "Already the world's largest and richest new diamond mine, Gahcho Kué is set to get even bigger with the inclusion of the Tuzo Deep potential resource. With ground geophysics now completed we're also gearing up to start exploration drilling of the first 15 new targets in immediate proximity to the four known kimberlites at GK. If successful, our winter exploration drill program may offer further exciting resource upside."

The public record for the environmental impact review closed successfully on January 3. The report and recommendation from the Gahcho Kué Panel is now awaited. On completion, the panel report will be submitted to the Minister of Aboriginal Affairs and Northern Development who has the authority to approve the development of the first diamond mine at Gahcho Kué.

"The project development schedule remains subject to final regulatory approval," says Evans. "While there is a high level of public and government support, delays in final regulatory approval could impact the development schedule. Shareholders will be kept informed of further developments following receipt of the report of the Gahcho Kué Panel."

Mountain Province Diamonds is a 49% participant with De Beers Canada in Gahcho Kué located at Kennady Lake in Canada's Northwest Territories.

The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes grading 1.57 carats per tonne for total diamond content of 49 million carats.

Gahcho Kué is the world's largest and richest new diamond mine development.

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